🚨 BREAKING: The GENIUS Act Could Redefine Stablecoin Regulation in the U.S.! 🧠💵
The U.S. Senate just greenlit the GENIUS Act, a groundbreaking bill designed to bring order and clarity to the wild west of stablecoins. Next stop? The House of Representatives. 🏛️
🔍 What’s Inside the GENIUS Act?
This legislation aims to protect users and legitimize the stablecoin space with key guardrails like:
✅ 100% backing by liquid assets — think cash, bank deposits, or Treasury bonds
✅ Mandatory audits for issuers holding over $50B
✅ AML/KYC compliance + powers to freeze shady transactions
✅ Monthly reserve reports for full transparency
If passed, this could become a global benchmark — ushering in a new era of stability and trust in digital finance.
👇 Why It Matters for Crypto Exchanges:
🇺🇸 U.S. giants like Coinbase, Kraken, and Binance.US may need to revamp their stablecoin listings and custody models.
🌍 Even international players like WhiteBIT — though not U.S.-based — might align to stay globally competitive.
